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FLUX is a digital cryptocurrency token that runs on its own native blockchain. This token was made to enable transactions, staking, and rewards within the Flux ecosystem.
Flux is also the name of the wider project around the token. The Flux platform is a decentralized computational network that offers infrastructure services like hosting storage, and more. It aims to spread computational tasks across its network, using the power of decentralized nodes to provide strong, decentralized cloud computing.
FLUX is mainly used for exchanging value within the Flux ecosystem. It has several key roles, like as:
Transactions: Used for sending value within the network.
Staking: Holders can stake their FLUX tokens to support the network’s security and operations.
Rewards: Node operators and participants in the ecosystem can get FLUX tokens as rewards for providing computational resources and contributing to maintain the platform’s integrity.
What Makes FLUX Different
Flux is a Web3 project that is truly decentralized, unlike many others that rely on centralized infrastructure. This means that Flux has no single point of failure and can guarantee 100% uptime. Flux is working on PoUW, which stands for Proof of Useful Work. This is a revolutionary project that will help in addressing the environmental impact of the industry.
PoUW will use the huge amount of computing power that GPU miners use to secure the blockchain to solve real-world problems instead of random problems. These real-world problems could include video encoding, weather forecasting, or machine learning.
Supply Allocation and Distribution Details Of FLUX
The maximum supply of FLUX is 440 Million. The 440 Million can move between any of the parallel asset chains or the native Flux chain, so the circulating supply will be spread across many chains, but the maximum supply will always be 440 Million. The current (2023/1) circulating supply is 285,978,944 FLUX; 120,333,500 FLUX of which is locked in Flux nodes.
Flux has been GPU mined since the beginning; no ICO/IEO/Pre-sale was done. FLUX Token Allocations: 94.7% is owned by users 2,9% Flux Foundation 1,7% Exchange Listing/Liquidity 0,7% Flux Team
The block reward is split by 50% POW and 50% to FluxNode operators. A mining block now has a reward of 37.5 Flux. For each block, 37.5 Flux is also given to node operators in a fair round-robin system with the reward being divided between three node tiers.
As more nodes join a tier, the time between rewards increases as the ‘queue’ in the round-robin system gets longer. This ensures a fair, transparent, and predictable reward distribution to FluxNode operators. Both miners and node operators get extra rewards through parallel mining which is the distribution of Flux parallel assets, this basically doubles the block rewards, although the distribution of the unreleased parallel assets doesn’t happen until their release.
Conclusion
Flux is a project that offers a decentralized cloud computing platform powered by GPU mining. It uses its own native cryptocurrency token, FLUX, to enable transactions, staking, and rewards within the Flux ecosystem. Flux also has a decentralized computational network that offers infrastructure services like hosting, storage, and more. It leverages the power of decentralized nodes to provide scalable and secure cloud computing.
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